Iran's Surprise Attack Sends Oil Prices Soaring

Oil prices surged on Wednesday after Iran launched a surprise attack on US forces in the Middle East. The move sparked a rebound in crude futures, with Brent rising 4% to $87.57 per barrel and WTI gaining 4% to $82.51 per barrel.

The attacks were reportedly carried out by the Islamic Revolutionary Guard Corps, which launched multiple ballistic missiles at US forces based in the region. However, all Iranian missiles were successfully intercepted by the US military.

In a separate development, Saudi Arabia launched strikes against 'specific targets' in Iraq linked to attacks on the kingdom's petroleum facilities in recent days.